More Comments Out Of China On Trade Is Driving These Markets
Chris Temple joins me to address the move higher in the US markets today on the back of comments out of China. The story is China is willing to buy $1 trillion of US imports each year for 6 years. This is only a story and nothing has been signed but it is giving money managers another reasons to continue chasing the short term trend higher. We discuss just how likely this is to happen as where all the parties stand in term of actually getting a deal signed.
That’s it, Congress delegated to stand in the corner. Dunce caps optional
If you look at the weekly chart of the DOW you will see that the conventional market has been on life support since Jan 2018. This is a pronounced double top as your going to see.
With that being said I “suspect”The President has hitched his wagon to the stock market because he was confident that the PPT could always keep things moving forward. These cowboys aren’t herding cattle they’re herding sheep.
https://finviz.com/futures_charts.ashx?t=YM&p=w1
Just wait until the Algos decide to start selling mutton.
Now get your but to work and put some more money in your 401K. Jamie D needs another raise.
In the event of a market break China will be in a stronger position than the U.S.
Unlike the U.S, most of China’s debt is internal and will be easier to manage.
What you tink of GOLD and SILVER ? bird man sorry ! snowbird ?
The next 2-4 weeks should be a hoot in the metals.
Chris Temple ! Is a good MAN in a Crazy world ! Tanks Chris !
Hi James:
I think the advice I took years ago to put 10% of my wealth in Precious metals by Mr. Korelin was some of the soundest advice I ever received.
We are being persecuted for being of the Austrian thinking, but we will have our day in the sun.
Speculating on Gold and Silver companies can be very profitable but you have to get the Macro right as well.
I have said it before that I felt that President Trump and Treasury Secretary Mnuchin were involved with Gold and Silver futures for appearances reasons. The U.S Dollar must be protected at all costs. Until that changes I wouldn’t expect to much from either Gold or Silver, but I still would have 10% of my wealth in precious metals.
i mast agree ! Lissen to Mr Korelin ( AL ) Whit full sober Brain and you will make MONEY ! Sober cool and ( Time ) will make Money ! https://www.youtube.com/watch?v=ZxCkZfbTJ4g
Next week there absolutely will be follow through to the downside in metals and miners. While the odds or low, I can’t rule out a reversal by end of week that takes the metals and miners positive. Let’s face it, things like that haven’t happened in this sector for years.
Months ago I called for an intermediate cycle low in late January. The week of the 28th, iirc. It’s even possible that a low is struck next week, but it will take absolutely brutal volatility to accomplish that IMO. Who knows how this will play out. The more bounces and time wasted, the worse for the sector IMO. If gold needs to drop $40-60, just get it over with.
While I don’t think GDX will make a new low under any circumstance, that isn’t going to prevent a long drawn out trading range for the rest of the year, just as Doc is predicting. And the silver miners, well, throw a dart.
Meanwhile the Dow makes a beautiful V bottom on the weekly charts… The miners, not so much. GDX is grinding it out, just as I said.
One factor that does militate against GDX continuing its rally in the first half of this year is the fact that the 50 WMA has crossed under the 100 WMA. When that happens, it is often the case, especially with the miners, that you don’t see a recovery until both of those MAs have crossed below the 200 WMA. GDX’s 50 WMA has just crossed under the 200 WMA, but it’s 100 WMA probably won’t cross under the 200 WMA for months yet.
From zerohedge……..which some do not like, but ……
https://www.zerohedge.com/news/2019-01-18/global-debt-tops-244-trillion-dollars-nearly-half-world-lives-less-550-day
The game is literally rigged against us, and we need to realize what we are up against.
Tinkering around with the current system is not going to fix anything. We need to ditch this current system and start again from scratch, but it will probably take a horrific collapse before most people start to understand this.
most Americans are continuously making payments on their mortgages, their auto loans, their credit card balances and their student loan debts.
Could all be solve with a DEBT JUBILEE……..
Just think………..Jamie just made $31 Million , from people’s stupidity …….
most Americans are continuously making payments on their mortgages, their auto loans, their credit card balances and their student loan debts.
” It has gotten so stupid and out of control that the very first law considered by the US Congress and US Senate in 2019 was a bill to make boycotts of Israel illegal.
You may still boycott the Mormons and Buddhists. It’s legal and OK to boycott the Pope or Donald Trump should you wish. And advocating boycotts of Hillary will still be allowed. You can boycott whoever and whatever you wish. Except for Israel. Twenty-six states have already incorporated rules requiring loyalty oaths to Israel. In Europe you may not question the Holocaust. If you even debate what happened, you may go to jail.
Now that’s power.”
Bob 321
Amazing really, Maybe we should have a membership drive for the “Christians for Israel”
The Case That 9/11 Was an Israeli Attack on the US Is ‘Overwhelmingly Strong’ –
https://russia-insider.com/en/case-911-was-israeli-attack-us-overwhelmingly-strong-ron-unz/ri24931
The awakening of Ron Unz has been a blessing for those of us who are not part of the “Get Along” bunch. Ron is going to be hard to silence.
No KER politics thread for DAYS!!! Commenters need their fix, Al, help us out!!!
LOL
SPY is near resistance:
http://schrts.co/jxUjqDCA
RT has been propagandizing against the US – NATO relationship.
I am fairly sure Israel had foreknowledge of 9/11 via spying/hacking U.S. communications, but I believe 9/11 was organized by American traitors.
Building access to put in explosive charges should be considered.
Im hoping for another “afterlife” interview.
I heard about going into the light long ago, nothing new I suppose.
I figure the best way to go would be by lightning bolt, that way ya wouldnt have to search for the light.
I did enjoy the topic, something a bit different.
Gold’s golden cross is coming very soon:
http://schrts.co/tXiJKqas
If they drop it $100 next week they can avoid the cross. lol. (I shouldn’t even be laughing as we have seen this type of BS time after time.)
Silver closed just above the 200 day MA:
http://schrts.co/kbIumJgB
HL’s 5 week RSI hasn’t hit overbought in 2 years. That is absolutely insane.
HL’s weekly full stochastics haven’t hit overbought in 2.5 years. That is mindblowing weakness. It’s been a slow, steady decline too. Absolutely no fear whatsoever on the short side. Just short it on any touch of the 20 WMA and it’s guaranteed profits. If it makes a lower low now, well, wow.
FYI there is an FOMC meeting on January 30th. That jibes with my call that the intermediate cycle low will be struck at end of January. I didn’t realize this until today.
Maybe China will buy 6 trillion in US fracked oil and deplete our fields After that they can sell us discount food to survive on. Just a thought.